How to Find Funding for Your First Investment Property | Real Estate Investing 2023
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- เผยแพร่เมื่อ 22 ส.ค. 2024
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The number one way to build wealth is to invest in real estate, but that takes money to get started! So in today's video, I'm breaking down all of the numbers on how to find funding for your first investment property.
This means using four different methods, three of which I'm using this summer!
Real estate investing 2021 is a hot market, but that doesn't mean you can't get started investing in real estate. Whether you want to know how to flip houses, how to wholesale real estate, or how to do the brrrrr strategy, this channel has something for you!
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If you haven't already seen episode one of this series, check it out here:
• Wholesaler to House Fl...
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• House Hacking
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- The ABCs of Real Estate Investing: amzn.to/2zTE4mg
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- Never Split the Difference: amzn.to/2IdouWH
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Hey Lili thank you for sharing this info. Very well explained I love it I must say real estate is a great place to invest my money right now. It can double every penny no doubt
You're right kimaya it's a good form of extra income
You're right ma'am but you need huge capital to start investing in real estate or you would be a landlord to make money
@@georgenoah4872 You don't really need huge capital to start investing in real estate. I got started with with a little less than 20k. Right now I have a units in real property and make about $5k - 7k as passive income monthly
@@kimayaknight7180 congratulations
How did you achieve that?
@@nicolasfernandez222 I work with a broker
Congrats on the 6 units! You’re giving us so much information for free and I appreciate it so much. I would subscribe again if I could.
I appreciate that!
FAX holy fuck 🚀
I’m new your channel and you are the most informative, congratulations on your accomplishments!
I’m
Ok 👍🏾 I’m
The final boss of financing: using private money for the 20% down payment of the purchase, using hard money to pay the remaining 80% of the purchase and for 100% of the rehab. Sell the property and pay off the PML and HML, pocket the profit. With none of your own money in the deal
I would have to have a good enough credit history, to get the payments with putting down anything now I have the loans and house, I have to renovate refinance then sell the house.
@@dandremills2735 Yeah thats the sweat equity ie: hard work and focus required in RE.
You say use none of your money but where is the “hard money” and “private money” coming from
@@aisha-3857 Residuals…they make money off the points, interest/time and other fees. They do this over and over and build capitol ie: stack their bank account. Over time they are able to offer larger loans and/or service more investors. I mean its the same premise any company uses. Flip and stack method….even drug dealers know that basic concept.
@@aisha-3857 hard money lenders rich people who put there money to work I buy you a house for 100k at 8% to 12% for 6 months easy return if u have money to loan
You are going to be a very wealthy person because you are blessing people with knowledge. There is enough money out here for everyone because the universe creates more and more everyday. Your wealth is going beyond money. You are liberating people from poverty! What you are sharing is priceless. Thank you.
6 units this summer?! 👏🏻👏🏻👏🏻 wow!
The amount of info your giving us is crazy. Thank you
✊🏾
Literally my new favorite TH-camr thanks for such clear valuable information.
i dont understand why this video doesnt have a million views. the amount of detailed info in 20 mins she gives is insane.
I try!
Yeah I’m watching this in 2024!!! She is Amazing!!!
YOU ARE THE #1 at doing this! My brain just exploded with all this information. Thank you so much
@Lili Thompson I was like, what type of math equation do I have to solve and then I got it 🤣
I’ve watched tons of videos on BRRRR and you made it make the most sense! I was always stuck on the “all in at 70%” because it wasn’t clear how we got there. Thank you!!
Congratulations on the 6 units! I signed up for your boot camp, can't wait to start! You have been so transparent, honest and easy to follow, thank you so much! You have been a huge inspiration for me to take my business to the next level and beyond!
How can i sing uo to this bootcamp
I love this. I just closed on a side-by-side triplex out of state so I’m preparing for my renovations with my property management company.
How did you manage the rehab from out of state? Any pointers when using a property manager to oversee rehab?
Thank you for your videos! I love that you are "real" and not pushing a bunch of fluffy rah rah get rich tomorrow stuff. Your style - and even your voice - are easier to watch/listen than so many other's I've come across. :)
Lili you are heaven sent!! I appreciate you so much!
Congrats on all your achievement your are like a steam train. Thanks so much for all your info I don't remember seeing it break down like this before.
Im binge watching you videos. LOL your honestly is refreshing. Im a investor in Chicago. You remind me of when i started. It went the same way. I had a deal stolen also. But i did get my first flip a year after that happened. The BRRRR method is something I wanted to do 5 years ago but an investor who was coaching me at the time said i was stupid for doing it. I see how wrong he was. He said i was just building up debt. But….i wasn’t worried because i can use series LLC to hold my properties in. Just curious, do they have Series LLC there? Also you are great at explaining this process. I have several questions about how you found the properties which is the hardest part for me.
ABSOLUTELY LOVE "ALL" OF YOUR VIDEOS. I AM LEARNING A GREAT DEAL AND AM SO HAPPY YOU ARE SHARING YOUR JOURNEY. I HAVE BEEN WATCHING AND STUDYING DIFFERENT VIDEOS ON THESE TOPICS. I AM READY TO STOP BEING AFRAID TO STEP OUT ON FAITH AND BEGIN. THE YEAR 2022 IS GOING TO BE MY YEAR TO FINALLY START PURSUING MY PASSION AND LOOK FORWARD TO NETWORKING WITH YOU ON SOME DEALS AS WE HAVE A LOT OF PROPERTIES THAT ARE GOLDEN EGGS.
Hi! I love your videos and your real estate channel is now my go to for everything! I was wondering if you could make a video explaining how you set up your business and how you keep track of all your money for taxes and such. Basically to make sure that when I start investing I don't get into money problems with the government in tax season.✌
This is the best channel for new wholesalers hands down very smart concise and to the point thank you I have a deal almost exactly like your example $100K with a ARV of about $215K and I was trying to see if I should wholesale it or use it as my first flip and this video helped a lot
Dude you are the truth I’m trying to get this done myself and have 40k but no invester
This is amzinggg!!! I feel like I’ve been blind my whole life 🥴
The issue I'm finding is even with hard money lenders or private money lender etc you still need at least 20% (In Ontario, Canada)
So you still need some $$$ to bring to the deal
Yup that is correct. 20% is pretty standard for investment property
yes, but that doesn't have to be a bad thing! borrowing 100% is risky! side hustling or wholesaling are two good ways to earn and save the capital needed
Didn't know about the commercial financing for a BRRR, very helpful!
@Lili Thompson is this your real number?
What's the name of that commercial loan strategy or a company/lender that does them?
Thank you Lili, this information is game-changing.
You're so welcome!
I love and appreciate the way you break things down!! I'm trying to figure out how to best jump in buying my 1st investment property and figuring out the best loan option has been my biggest hold up. Just put a few of the books you suggested in my Amazon cart and I'm ready to learn!!
You’re what you say you are. Learned a lot even in one just by sheer costs. Although way more into BRRRR and STR than flip. Thanks for the prop stream. Already monetizing page
Love us the most powerful emotion with a long lasting touch. No need fir fear it's going to touch us all and it want let go no matter how far you go.. I am a witness. Thank tou
Perfect timing with the video! I just applied for my 1st hard money loan yesterday and waiting to hear back. Question: when do you begin the monthly payments on the hard money loan?
Also, love watching you grow!
Who you go through
Depends on the lender, but that's a good question to ask when you first meet with them
Very well done video comparing these funding methods
By far one of the most sincere posts I've come across . Most videos use similar title and you watch everything with zero info provided. Keep it up...God bless !!!!!
So clearly explained! I love the way you compared several different methods. I’d been leery of hard money loans because of the typically higher interest rate. You showed me it can actually be a better deal than conventional loans. Thanks!
Thank you for all you do! This was awesome, just what I was looking for. Now show us how to wholesale.
God Bless people like you. I learned about wholesaling a year ago and did not take action after learning, now you're making me want to find my first deal and begin the BRRR strategy. Thank You
I'm saving for your boot camp 💖
Wow! A very detailed breakdown. I learned a lot in this video. Thanks!
Such wonderful information! Thanks for sharing your knowledge. To me, that shows you're confident in who you are, confident in what you do and understand there's plenty to go around.
The commercial loan portion was surprising. Are these loan types through traditional banks? Where can I find a reputable one?
She responded to another reply with this answer:
"It’s usually just called a rehab to conventional or interest only to amortization, but ask 10 small local banks if they have something like that then ask their requirements based on your experience and available capital"
Quick question - when starting out do you need to have a business name, number etc? Ty
I really don’t have much knowledge with wholesaling but I have trade knowledge. electrical, drywall, plumbing, Hvac, carpentry etc I think that would be a great help for a business like this. I’m really trying to get into it , just need to do my research
You should look into property preservation with your background skills
@@ajathompson6331 if you have more info about this please let me know .
Love love lovve your channel ⚡️🔥🦴✨🎓🤍 Thank you for throwing us a bone. N dropping knowledge 💣 on flipping houses, n everything that’s entailed. I appreciate the value you bring to my life. 🙌🏼👩🏼
thanks!!!
Ur a open book. This way better then the join my mentor groups that I have ran into. Knowledge is power and that’s why people will never give it up for free. I really appreciate this cause it’s really good. And u give it out for free which is unheard of.. The numbers are 🤯 making me have to rewind and pay closer attention hahhaha I bet the other mentors hate u lol
Thank you so much for the content!
Im looking in commercial loans for my first property, how do you find the right commercial loan programs?
Thank you for such valuable information and for being honest and not like the other TH-camrs who are greedy with their information. I feel like information like this is often kept from the unwealthy and it's unfortunate. You are helping so many people with your content. Stay blessed and best of luck to your ventures!
runnin into your channel is a blessing. Currently studying for the RE exam, & gathering as much info as i can about the real estate world. thanks for sharin
Omg I freaking love this !! Informational , inspiring, and motivational.. I can’t wait till I’m going about deals with these different funding methods 🥰😭!
love this content good luck with all your future projects! Don't
forget to keep us informed of all the details!!
ALL...THIS...RIGHT...HERE! Key word - LEVERAGE! Everything you have said here is why I don't understand those that advocate against debt. Very wise words indeed.
Lili, you are amazing keeping building and creating content!
5 minutes in I realized you are the real deal. Thank you for sharing this content! You just got a new subscriber!
Woah! Method 4 blew my mind!!! Thanks Lili!
You are the best, no one else breaks down strategies like you do.
Just subscribed ! Awesome videos appreciate you going super detail on everything
For those of you wondering. If you have family members with money, they can become a private money lender for you. Depending on what you negotiate, the private money lender can cover both cost of the home and rehab of the home. This is good for the lender if they're looking for a way to make investments. It's good for you the borrower if you have no money to your name and are trying to get into real estate
Want to say I love your videos and I’ve watched your whole journey thank you for the knowledge and inspiration 👏🏾
You just earned a subscriber! I’m declaring that this will be one of the biggest investor/real estate channels on the net. ITS DONE!!
BELIEVE ME NOW?
Hi Lili! I've been liking each of your videos. You are very helpful way more than anyone I have followed before. I never resent anyone video or cared to but I want so many people to follow up. You a pouring blessings out! Thanks so much and keep them coming!!!
I'm meeting with a lender right NOW! He brought me out to eat and meet 😆
Great video! May G/d continue to bless you for teaching us for free
You are by far the best at teaching this! Thanks a Milly. 😁😁😁
Get it girl so proud of you
Love you Lili thank you for teaching! I have learnt more from your videos then another youtuber. You make me feel confident to start.
I just found your videos and am trying to make my way off the corporate plantation and start building my real estate investing portfolio.
Do you have a video on how you got started in wholesaling???
I LOVE the way you broke this down! You just made my whole night!
So much good information I have to watch it more than once. Thanks
You are the best 💖 I love how you explain everything broken down with great perfection
I'm not a numbers person at all but this I was actually able to keep up with and make sense of it thank you soooooo much!!
Congratulations Lili you are awesome and thank you for sharing all your real estate investing knowledge I really appreciate it. You are killing it keep grinding.
So how do I find the stress homemade and who owns them and then what do I have to do to try to get in touch with the owner
thank you for sharing Lili, i love the fact that you kip it real
Hey Lili! Love your videos. Just started watching and I'm already learning so much. Question for you - after speaking with my lender he mentioned you have to wait 6 months to cash out refinance a home after closing. Does this apply to all purchases including wholesale? Essentially meaning I would need to take a hard money loan for 6 months for every BRRR project? Want to make sure I understand before jumping in! Thanks again for the great content.
Lili your awesome girl keep up the good work. You are much appreciated 😀
thank you so much for this information!!!!
Glad it was helpful!
Highkey killing the game
Hey Lili how do we convince the private investors to lend to us?
You explain SO well! Thank you!
I love your videos! They are so detailed and great
Wow you’re channel has so much valuable info. New subs here! I love how you break down everything in detail. If I do the brrr method, instead of renting can I just stay and live In the house?
AWESOME, I took my notes and really learned alot, now I'm going to have to watch it again!
Thank you for sharing!
My pleasure!
I really appreciate your content! Tysm! 🙏🏽
Great information, came across your page on time. I'm looking into real estate investing and have a seminar I'm going to this weekend. Ready to start work for myself . Thank you
Fantastic!
Why do I have this same exact hoodie?? This is my girl!! We need to team up in Pittsburgh, girl, very affordable housing!
You are such an amazing soul, thanks for all you do.
Lili, I’m in Oklahoma too! It is awesome that you are in the same state as I am. So, I hear that Oklahoma no longer allow Real Estate Investing if you don’t have a realtors license. Did you get a real estate license?
Very well done! Learned so much!
Eres la mejor 💖 me encanta como explicas todo desglosado con una gran perfección
Recieving Blessings because you keeping Giving out Blessings 🙌🏽
Your are the real deal. Congrats on your success.
I love your videos, thank you for the information. I am very interested in propery investment, but not sure where to start.
Hello LiLi I'm a new subscriber I just listened to 3 of your videos on Real Estate and it has surely has inspired me to become an investor. I will be starting from the bottom with no money, what a success it would be to reach your level and beyond using your intelligent strategies. I currently live in Houston Texas and would like to take your beginning course.
Love your channel! I'd like to see you cold call possible sellers. I think you have a video like this that i saw but i can't find it..if so could you share the link?
Great info
Now thats crystal clear!💪🏾👍🏾
hi Lili ..please explain the "Donut" in the background lol
Which is better PropStream or prop wire?
Lolo the goat
amazing vid thanks for info and posting. straight gold....
I really appreciate ur content! I love learning from you! Thank u so much🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾
It sucks because wholesaling is illegal in Ohio. I feel so late because it's like wow it's gonna be hard for me to start out now I feel.
I learned something today! Thanks Lili
Awesome